Ricks Picks

Europe’s Hail Mary Pass


Europe took competition to a new level last week in the global currency-devaluation olympiad. Nominating the politically-minded IMF chief Christine Lagarde rather than a blue-blooded financier to run the ECB is akin to making Trump chairman of the Federal Reserve. No longer can we pretend that the staid protocols of old-school banking still obtain in the financial realm. Instead, there is a strong whiff of desperation as Europe readies a last-ditch attempt to stimulate itself out of a liquidity trap with the ECB’s deposit rate already at minus 0.4%.

No one could possibly believe that bringing rates down even deeper into negative territory will have a lasting impact on the intractable unemployment, anemic economic growth and coming deflation that threaten to snuff prosperity in the eurozone. The alternative is to turn the region into a fiscal-spending free-for-all by lending promiscuously to the likes of Italy, Greece and Spain. Presumably, this would come with Germany’s reluctant assent and the feckless instruction, “Go to town, guys!”

Powell’s Dilemma

This is unfortunate for Fed Chairman Powell and his nascent plan to propagate yet another QE blowout. He’s practically had his arm twisted off by easy-money advocates and, having donned the knee pads that came with the job, is ready to do their bidding. But now, try as he might, it will be difficult to force the dollar lower. He’ll have to settle for mere asset inflation in the U.S., as though there weren’t enough of that already, and scant hope of shrinking the trade deficit. Not that anyone will much care.  Higher share prices will continue to obfuscate a multitude of sins, allowing Wall Street to revel for yet more weeks/months/years until the deepening economic woes of our trading partners, including China, eventually hit home.

Comments on this entry are closed.

Ambrose Bierce July 9, 2019, 11:22 am

I like the LBJ comparison, March of 68′ he withdrew He was a popular president at the time.

John Jay July 8, 2019, 1:22 am

I think POTUS Trump has lost his perspective on the Fed/Interest Rate situation.

“President Donald Trump criticized the Federal Reserve for raising interest rates, claiming that economic growth in the U.S. would have been higher than 3% and the stock market would be 7,000 to 10,000 points higher.”

Let’s see if President Trump gets tough with Powell, in the LBJ style with Fed Chairman Martin…………………………

“Johnson had pushed Kennedy’s economic policies to their logical extreme. In 1964, he had delivered a powerful fiscal stimulus by signing tax cuts into laws, and he had proceeded to bully the Federal Reserve to keep interest rates as low as possible. When the Fed made a show of resistance [in 1965], Johnson summoned William McChesney Martin, the Fed chairman, to his Texas ranch and physically shoved him around his living room, yelling in his face, “Boys are dying in Vietnam, and Bill Martin doesn’t care.”

Oh hell, why not?

I myself am anticipating some major fallout from the demise of Deutsche Bank, who might layoff 20,000 bankers and exit lots of trading businesses.
I think it will get worse for them as the days fly by.

Not to mention Trade Wars, Iran uranium enrichment, UK hi-jacking an Iranian oil tanker, Putin staying put in Venezuela, with our “Interim choice for their President, Mr. Guaido, nowhere to be found, Jeff Epstein likely to name names to save himself, ……….

My, things are just bad all over these days!

Hidden Pivot Graduate
Help Page

Click here
for a help page needed as a Hidden Pivot Graduate.

Keep Your
Skills Current

Click here
for a special deal for graduates of the Hidden Pivot Course who want to stay on the cutting edge


Start a Subscription
Lost my password

Seminar Information page.

Tuesday, October 15, 2019

The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.

Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.

Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.

The three-hour Hidden Pivot Course is offered live each month. If it’s more convenient, you can take it in recorded form at your leisure, as many times as you like. The course fee includes “live” trading sessions (as opposed to hypothetical ‘chalk-talk’) every Wednesday morning, access to hundreds of recorded hours of tutorial sessions, and access to an online library that will help you achieve black-belt mastery of Hidden Pivot trading techniques.

The next webinar will be held on Tuesday, October 15. Click below to register or get more information.

Knowledge Base Link